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20121202
20121210
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KPIX (CBS) 27
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parties are leaving the talks to president obama and house speaker john boehner. here on capital hill, boehner says he is still waiting for the white house to respond to the latest gop proposal. >> this isn't a progress report because there's no progress to report. >> republicans are offering to extend tax breaks for all americans, close tax loopholes and cut nearly $1.5 trillion in spending. >> i came out the day after the election to put revenues on the table to take a step toward the president to try to resolve this. when is he going to take a step toward us. >> jay david cox sees real conqueenses if the country goes over the cliff. >> -- consequences if the country goes over the cliff. >> there would be a lot of employees who would be furloughed or lose their job. >> speaker boehner says he will be staying in town this weekend ready to negotiate with the president. danielle nottingham, cbs news washington. >>> a car can't be registered at the dmv. turning buyers and sellers into big losers. >>> when it comes to early december weather, does it get any better than this? if you're a
year. >> reporter: his remarks came one day after house speaker boehner announced the talks were stalled. >> well, this isn't a progress report, because there's no progress to report. >> reporter: his democratic counterpart nancy pelosi blamed boehner for the stalemate. >> what they offered in return was an empty letter, lacking in specifics. >> reporter: such is the state of negotiations, 23 days before the deadline, when federal income tax will revert to higher levels, and long-term unemployment benefits will dry up for over two million americans who have been out of work for six months or more. on friday, boehner did not rule out a compromise on a tax hike for top earners, somewhere between today's 35% rate and the clinton era's 39.6%. >> there are a lot of things that are possible. to put the revenue this the president seeks on the table. >> reporter: even if the two sides are making progress behind the scenes, no one expects them to admit it until the last minute. but the office of budget has asked for a list of possible cuts just in case there's no deal. >>> barely a month
reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could form the basis of a deal. the president is now talking about actually lowering the tax rate for the top 2% not now but later. and republicans are now taking some heat over their latest plan a lot of it from within their own party. >> five, four -- >> reporter: house speaker john boehner led the countdown to the lighting of the capitol hill christmas tree last night. >> one. >> reporter: but a different countdown weighs on the minds of these lawmakers, the countdown to the fiscal cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter: speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining
into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks could start soon, but now we learn that a lot of members of congress are heading out on a long weekend, not to return till tuesday. this as the impasse here on capitol hill continues and the nation waits. social security workers marched outside their office in baltimore wednesday. they're protesting the government spending cuts due to kick in at the end of the year as part of the fiscal cliff. >> we don't want to see our public hurt in any way. >> just down the road in washington, d.c., the standoff continues. house speaker john boehner says he's still waiting for president obama to make his next counteroffer to the republican plan he rejected. >> i'm going to need a response from the white house. we can't sit here and negotiate with
designed-- >> schieffer: what gives you reason for optimism. speaker boehner says this is basically a stalemate. >> it's true that we're still a bit apart. and they're going to have to move further, and they're trying to figure out, again, what they do next in this context. again, we've given them a very detailed set of proposals. we're open to suggestions on how to do it differently. if they want to come back and say we'd like you to do this differently, do more of this, they should lay this out for us. >> schieffer: what is it what cannot change in your plan. >> our plan? >> schieffer: yeah. you said you're ready to talk. >> of course we are. president has said over and over from the beginning, again, we've laid out in detail what we think makes the most sense for the american economy today, again, glowft extend the middle class tax cuts but put in place some carefully designed savings to bring downtown long-term deficits and we should do ethics help growth in the short term like rebuilding american infrastructure, helping americans with their mortgages, extend unemployment benefi
to report. >> reporter: his democratic counter-part, nancy pelosi, blamed boehner for the stalemate. >> what they offered in return nas an empty letter, lacking in the fics. 3 dreporter: such is the state of negotiations 23 days before nhe deadline, when federal era le tax rates will revert to higher, clinton-era levels, a 2% ayroll tax cut will expire, and long-term unemployment benefits of dry up for over two million americans who have been out of work for six months or more. on friday, boehner did not rule hikea compromise on a tax hike for top earners, somewhere between today's 35% rate and the clinton-era's 39.6%. >> there are a lot of things ssat are possible to put the revenue the president seeks on the table. >> reporter: even if the two sides are making more progress behind the scenes, no one mit its them to admit it until of last minute. ederoffice of management and budget has asked all federal agencies to come up with a detailed list of possible cuts if there's no deal, maurice. >> dubois: nancy, thank you. t how is all this affecting the economy? the one sign we did see yesterday
day after house speaker john boehner announced the talks were stalled. >> well, this isn't a progress report, because there's no progress to report. >> reporter: his democratic counterpart, nancy pelosi, blames boehner for the stalemate. >> what they offered in return was an empty letter, lacking in specifics. >> reporter: such is the state of negotiations 23 days before the deadline, when federal income tax rates will revert to higher clinton era levels, 2% payroll tax cuts will expire, and long-term unemployment benefits will dry up for over 2 million americans who have been out of work for six months or more. on saturday, boehner did not allow a compromise on tax hike for top earners, somewhere between today's 35% rate and the clinton era's 39.6%. >> there are a lot of things that are possible, but to put the revenue to the president seeks on the table. >> reporter: even if the two sides are making progress behind the scenes, no one expects them to admit it until the last minute. but the office of management and budget has asked federal agencies for a list of possible cuts, just in
of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary geithner's comments about going over the cliff. the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me-- or do not used words like "curt," "frank" and "direct" meaning it was probably more gentle. also i'm told scott this is no longer a time for check-in phone calls between these two leaders. everything now is substantive about the underlying merit of what treasury secretary geithner. republicans believe this can be done through tax loopholes not raising rates on the wealthiest americans. >> pelley: we asked chip reid to visit with a family staring over the fiscal cliff. >> reporter: sean and jody watson have four daughters ages five to 14 and know all too well the sacrifices and sleep
speaker john boehner on wednesday while his treasury secretary said the white house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, gd morning. >> reporter: good morning, charlie and norah. the president will cross over the potomac into northern virginia to meet with a family who says their taxes don't go up, they'll be happier and spend more money. that's the pr side of this. much more important, the context of the deal, keet players yesterday picked up the phone. phone call relatively brief and substantive. details remain elusive. it was shorter, sources say, to last week's 28-minute conversation described them as curt, direct and frank. no one familiar with this call used such barbed words. it also occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans. remember, it's onl
news 2 sunday speaker john boehner was not optimistic. >> i would say we're nowhere. period. we're nowhere. >> reporter: earlier this week house gop members rejected a proposal from the white house that included tax hikes, spending cuts and $50 billion in new stimulus. >> we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> reporter: if nothing is done and the gridlock continues, about 110 billion in spending cuts and a $500 billion tax increase will automatically start to take effect in 2013. and the tax policy center estimates the average american household would ring in the new year owing about $3500 more on their taxes. republican senator lindsey graham says it's a possibility. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> blaming democrats for not doing enough to meet republicans halfway. >> the president plans when it comes to entitlement reform, this quite frankly a joke. >> reporter: with little more t
speaker john boehner spoke on the phone wednesday but publicly are holding firm on their positions. the white house has made clear the country could go over the cliff if republicans refuse to raise taxes on the top 2% of american earners. >> to do that to 98% of the american people, because of an insistence that the wealthiest americans get a tax cut would be profoundly wrong. >> reporter: republican leaders say they will close loopholes and eliminate tax breaks but bush-era tax cuts must be extended to all americans. >> reporter: the standoff and debt concerns ryan. so much so, that he is the guy if the suit dancing gangnam style with former senator alan simpson. the group the can kicks back is working to get young people involved in fixing the debt crisis. >> we are trying to connect with our generation in a different way using humor to hook them in and get them to learn about this issue and understand how it affects their lives. >> reporter: the grassroots campaign wants to sign up more than 2 million people to push pressure on both sides. danielle nottingham, cbs 5. >>> lawyers
john ba boehner has asked democratic leaders to step aside so he and the president can negotiate a deal one on one, and no one is objecting. >>> the crisis in egypt remains volatile, with massive anti-government rallies planned today. >>> heartbreaking survival story for a woman stranded in the snow in the california sierra nevada mountains. >>> shoppers at a seattle macy's had to be hospitalized when an escalator they were riding malfunctioned. >> fire to the end zone. touchdown. >> broncos with their eighth straight win. >> all that -- >> three, two, one! >> my 50th birthday, she gives everybody a car and then she's all, thank you for coming to gayle's birthday! >> we're talking about oprah, right? >> no, of course not. >>> and all that matters. >> south carolina tea party says jim demint is resigning. >> leaving the senate a lot better than i found it. >> jim demint leaves some big shoes to fill. >> jim demint leaves some big shoes to fill. then again -- captioning funded by cbs en again -- >>> welcome to "cbs this morning." i'm charlie rose in new york. norah o'donnell is in washing
to the two main power brokers, president obama and house speaker john boehner. >> if the president doesn't agree with our proposal, he has an obligation to families and small businesses to offer a plan of his own. a plan that can pass both chambers of the congress. >> reporter: with the clock ticking toward the fiscal cliff deadline, government workers have joined the push but they want to make sure they're not cut out of the deal. >> federal employees that i represent have offered up $103 billion to the federal deficit. >> reporter: jd cox of the american federation of government employees say they can't afford anymore cuts and going over the fiscal cliff will impact millions of americans. >> there would be a lot of federal employees who would be furloughed or riffed and would lose their jobs. >> reporter: economists say the combination of automatic spending cuts and tax increases that will kick in january 1st if congress and the president don't reach an agreement could plunge the country back into recession. danielle nottingham, cbs news, washington. >> the house is scheduled to formal
a republican counter offer. >> john boehner sent a proposal that offers more than $2 trillion in deficit reductions but no tax increase. >> he will not sign an extension of the bush era tax cuts for the top 2%. >> folks worried about the fiscal cliff, are you like me? are you worried about it and have no idea what it is? >> according to state tv iran's revolutionary guard captured a u.s. drone after it entered the iriranian air space over the persian gulf. >> but u.s. navy official says there are no missing drones. >> prince william and his wife katherine, expecting their first child. >> after the duchess was admitted to hospital. >> that child could grow up to be one of the most powerful unemployed people in the world. >> a search is under way in new york for a man accused of pushing another man to his death in the subway. >>> rg3, he made opportunities. >> 17-16 washington redskins. >> all that -- >> why don't you shut up? >> you are an embarrassment. >> please shut up. just shut up. >> you shut up. >> that got annoying at the end. >>> and all that matters. >
and house speaker boehner. here on capital here hill boehner says he is still waiting on the white house to respond to the latest proposal. >> this isn't a progress report because there is no progress to report. to >> republicans are offering to extend tax breaks for all americans, close tax loopholes and cut nearly $1.5 trillion in spending. >> i came out the day after election to put revenues on the tame to take a step toward the president to try to resolve this. ,,,,,, ,,,,,, >>> you made it. it is weekend time, and i can vouch for both weather and traffic. weather thumbs up. traffic, thumb's down. here is a live look outside. we have mainly clear skies and mainly congested roads. beautiful weather, though. also in the south bay we're looking good. we are cooling down quickly. many of you will be in the upper 30s by tomorrow morning. concord you will be one of those spots down to 51. san jose, 56 degrees. ground clutter being picked up by our radar. there was no rainfall for 400 miles from san francisco. the south bay is looking great. sunnyvale, looking graph maybe you're going skiin
or negotiations yesterday at all. no formal e-mails, to conversations, nothing. house speaker boehner's countdown led to the lighting of the capitol hill christmas tree last night. >> three, two, one. >> reporter: but washington is counting down this month to the dark unknown of the fiscal cliff. >> thanks for having me. >> reporter: on his first view sbr interview on the fiscal cliff, he rejected john boehner's proposal. >> unfortunately the speaker's proposal is out of balance. >> reporter: raising taxes on households earning more than $250,000. >> we'll have to see the rates on the top 2% go up. we're not going to be able to get a deal without it. >> reporter: republicans want smaller tax increases overall and no movement on higher income tax rates. they want to cut unnamed tax bre breaks and deductions, which they say will do more to boost economic growth. the white house considers the proposal and economic rationale behind it laughable. >> we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> reporter: republicans answ
will automatically kick in. house speaker john boehner offered a republican proposal this week. but the president and democrats dismissed it because it includes no tax increase for the wealthiest americans. >> 60% of americans support asking millionaires to pay slightly more. >> there's only one person out of 307 million americans who can sign something into law, the president. >> boehner will meet with small business owners and the president speaks at a conference of corporate ceos. >>> citigroup is cutting 11,000 jobs. the bank says it's looking to cut expenses and improve efficiency resulting in $1 billion in charges. it's part of the restructuring. the company also said it plans to close branches. >> wow. >>> it is 6:21 now. we have a new multi-million dollar man. which giant signed a three-year deal with the team? >> plus, skills on and off the field. which 49er once guest started on an episode of "saved by the bell"? >> wonder who. >>> we are seeing rainfall around the bay area. looks like snow in the high country. here's today's snow report. heaven
in automatically. house speaker john boehnered off a republican proposal this week but president obama and other democrats have dismissed it because it includes no tax increase for the wealthiest of americans. >> 60% of americans pay slightly more. >> there's only one person out of 307 million americans who can sign something in law, the president. >> boehner is set to meet with small business owners while the president speaks at a conference of corporate ceos. >>> bob dole made an appearance on capitol hill yesterday in a wheelchair frail but still flexing his political might. he could not convince enough republicans to support a disabled rights treaty. the united nations treaty would ban discrimination against people with disabilities. it fell five votes short of getting the needed two-thirds approval in the senate. >>> the world's oldest woman has died at the age of 116. beth cooper is only one of eight people recognized by the begin he was book of world records to have lived that long. she died peacefully yesterday in an assisted living home near atlanta. the title of world's oldest person n
off the automatic tax hikes and spending cuts that will kick in next year. john boehner said he can't believe the latest white house proposal. the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good morning, terrell. it may appear the two sides are nowhere but these talks are expected to pick up dramatically very soon. december is here and as they say here in washington the lawmakers can smell the jet fumes meaning the planes taking them home for their holiday recess. what we're hearing there should be a deal by christmas. the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. timothy geithner was on the hill last week to present the president's plan to congress. >> i was fl
democrats may use their supermajority power. >>> in washington, house speaker john boehner says republicans and democrats are at a stalemate again in negotiations to avoid the "fiscal cliff." susan mcginnis reports, key players took to the sunday talk shows to make their stances known. >>> reporter: the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act, america will ring in the new year with $110 billion in spending cuts and a $500 billion tax increase leaving the average household with a nearly $3,500 hangover. treasury secretary timothy geithner was here on capitol hill last week to present the president's plan to congress. >> i was flabbergasted. you can't be serious! >> reporter: president obama wants $1.6 trillion on the rich, $400 billion in cuts to entitlement programs and billions in more spending. >> reporter: mitch mcconnell laughed at geithner during their meeting last week. now geithner says if republicans don't like the plan, it's up to them to pr
complain the new proposal from house speaker john boehner is too vague about tax increases even as it lays out a tough package of spending cuts. for instance raising medicare's eligibility age for the first time in the program's history most likely by two years from 65 to 67 the move would not apply to americans who are close to retirement now. it would be phased in for younger workers such as maggie, a virginia health club manager who just turned 50 last month. >> i think the biggest factor for me is when are you going to retire so you lose your insurance from work and if it goes to 67 you have this two- year gap. what are you going to do? >> reporter: when medicare was created in 1966, the average life expectancy for men was 67 years, today it's 76 and women live on average to 81. one recent study by the kaiser family foundation estimated that shifting medicare eligibility from 65 to 67 would save the federal government $5.7 billion a year. 65 and 66-year-olds would pay an extra $3.7 billion a year to ensure themselves. the employers would pay billions more. >> it would finally bankrupt
-the-board tax hikes and budget cuts will automatically take effect. house speaker john boehner offered a republican proposal this week. but president obama quickly dismissed it because it includes no tax increase for the wealthiest americans. >> the speaker's proposal right now is still out of balance. >> there's only one person out of 307 million americans who can sign something into law. that's the president. >> a "washington post" poll shows 53% of americans will blame republicans if the nation goes over the so-called "fiscal cliff." 29% would hold the president responsible. >>> shares of pandora media fell nearly 20% in after-hours trading on a disurge asking outlook for their current quarter. the oakland-based internet radio company says it expects to lose between 6 and 9 cents a share in the 4th quarter. they reported 3rd quarter profits tripled to $2 million. that worked out to a penny a share and apparently not enough. >>> "star wars" franchise is officially gone to disneyland. federal regulators have cleared disney's $4 billion purchase. lucasfilm. filmmaker empire behind the
obama and house speaker john boehner have resumed informal talks. they spoke by phone yesterday raising some hopes that formal talks will resume on how to avoid the new year's day "fiscal cliff." across-the-board spending cuts and tax increases as we all know will kick in if a budget agreement isn't reached by the end of the month. the president also met with ceos of some of the nation's largest companies hoping to convince them of the need for higher tax rates at upper income levels. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor says more needs to be done about spending right now. >>> meanwhile, public policy polling conducted an unusual survey to test american knowledge about debt reduction policy. people were asked what they thought of the panetta burns planning, something that doesn't even exist. one-fourth of the people took a stance on it anyway. 8% are in support by golly. 17% opposed. >> that's right. it's important to do research. >>
to raise taxes on the wealthy. house speaker john boehner has dismissed president obama's plan as not serious. >>> stock futures indicate there will be modest gains when the stock market opens up this morning. >> yeah. this follows a week when all the key averages posted gains. ashley morrison of cbsmoneywatch.com has the latest on monday in new york. good morning. >> reporter: good morning, frank and michelle. well, asian markets were mostly high they are morning on improved manufacturing data from china. tokyo's nikkei edged up a fraction to a seven month closing high while hong kong's hang seng lost a percent. >>> on wall street there was little movement as investors were cautious with all eyes on the "fiscal cliff." the dow rose 3, nasdaq down 2. >>> so far there's no resolution of the strike by clerical work at the ports of los angeles and long beach. the strike enters its 7th day today dramatically slowing traffic at the nation's busiest cargo complex. dock workers refuse to cross the picket lines. the clerical workers say management has been outsourcing their work. >>> a
speaker john boehner have spoken on the phone. the president also met yesterday with ceos of some of the nation's largest companies hoping to convince them of the need of higher tax rates on upper income americans. >> we are not insisting on higher rates out of spite or bickering but, rather, because we need to raise a certain amount of money. >> house majority leader eric cantor echoed of thoughts of his fellow republicans saying more needs to be done about spending. >>> the colorado movie theater where a gunman opened fire during the latest batman movie will finally reopen next month. aurora's mayor says the cineplex will open to the public on january 18. movie theater plans to run free movies for the first couple of days. you may recall 12 people were killed, 58 others injured, when holmes allegedly james holmes opened fire allegedly in july. >>> same-sex marriage is legal in washington signed into law last night by the governor. dozens of people got marriage licenses at the courthouse in seattle. the state has a three-day waiting period so the earliest it can start is on sunda
. a phone call between president obama and house speaker john boehner may be a positive sign in all of this "fiscal cliff" drama, they spoke yesterday raising hopes that formal talks will resume on how to to avoid across-the-board spending cuts and tax increases. we have been saying this for weeks. they will kick in if a budget agreement is not reached by year's end. >>> a number of state lawmakers had their cars fixed and you paid for it. lawmakers lost the perk of a free car about a year ago at least 37 of them deciding to buy the cars. that was an option. they have been using them when the state sold them. first they had all the cars repaired and maintained at state expense. $78,000 worth of work. >> as a taxpayer, you know, it's my money going to it so it's frustrating. >> doesn't sound fair. we work really hard for our money. >> we do. but a source in the legislature says the work was worth it. the state got more money when it sold the cars that were not bought by the lawmakers but had the repairs done. they got more money for those cars. so i guess it evens out. >>> same-sex m
's the most important thing. >> hat do you make of when you hear the speaker, john boehner over the weekend say we haven't made any progress at all. we're at a stalemate. does that worry you? >> well, i think it's clearly coming together on a joint solution and there's going to be a lot of gives and takes. but it will take everybody working together both on the revenue side and -- >> ceo of ford when you hear about the fiscal cliff and what it can do in terms of raising taxes on middle class families, even obviously wealthier individuals your concerned about sales? >> this is really an important question because, you know, clearly the actions that congress put in place to deal with the fiscal cliff is very important because if those actions actually took place then it clearly has a big impact on purchase decisions for all of us and clearly would slow down the economy. so we really do need to come together with a joint solution. >> alan mulally, jim farley, thank you. >> lincoln. >> yeah. all right. charlie -- >> very competitive business. >> nasa is an interesting story that we're talking a
Search Results 0 to 26 of about 27